Exxon Mobil Corp, BP Plc and BG Group Plc
decided not to make bids for the giant offshore Libra oil
prospect that Brazil plans to auction on Oct. 21, Magda
Chambriard, head of Brazil's oil regulator ANP, said on
The decisions by the three international giants - two of
which, BP and BG, already have large investments in Brazil near
Libra - have helped frustrate Chambriard's expectation that more
than 40 companies would take part in the auction.
As of yesterday's deadline, less than 40 companies had paid
the 2.05 million real ($931,818) fee to guarantee a spot at the
auction, Chambriard told reporters in Rio de Janeiro.
Earlier on Thursday, Chambriard said that at least 12
companies had paid the initial entry fee. The ANP will publish a
complete list of preliminary participants on Thursday, the
regulator's press office said on Wednesday.
The ANP said Libra holds 8 billion to 12 billion barrels of
recoverable oil, enough to supply all current world oil needs
for three to five months.